Guild Super, the $1.8 billion retail fund catering to childcare workers, has chosen a new administrator which it says will enhance member experiences.
Guild Super, which also trades as Child Care Super and offers Guild Pension for retirees, will switch to using IRESS as its administrator from May.
Currently, Guild Super outsources its administration to Mercer.
A significant event notice to both Guild Super and Child Care Super members explained that by using IRESS as administrator, the fund could enhance its digital offerings.
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Members will be able to make contributions by direct debit by logging in online, they will be able to submit requests to change investment options or personal details online and will be able to receive electronic communication from the fund.
From April 27 to May 1, members will find that the online portal has limited functionality as the fund transitions to a new administrator.
There may continue to be some processing delays until later in May, Guild Super said.
The fund had also previously offered members access to Mercer Financial Planning services. With the change of administrator, members will no longer have access to a personal advice service. Rather, Guild Super provided members with a phone number for general advice enquiries.
Meanwhile, Guild Super also altered its investment fees - resulting in slightly lower fees for most options. For example, the Building and Growing MySuper options fees decreased by one basis point each and the Consolidating MySuper option investment fee decreased by three basis points.
Additionally, Guild Super changed its policy on partial rollouts. Members can now only partially roll out their balance to another super fund if at least $6000 stays in their account.